Posted AT 8:49 PM EST on 04/11/08
Metals sector melting, but Quadra on the hunt
Copper producer Quadra Mining Ltd. snapped up nearly $55-million (U.S.) of shares in at least one other mining company during the third quarter, signalling it is on the hunt for a merger or acquisition amid the metals sector bloodbath.
The Vancouver company, which operates the Robinson mine in Nevada and is close to completing the Carlota copper project in Arizona, disclosed it paid $54.5-million for shares in an unidentified mining company or companies.
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